Showing posts with label withdraw. Show all posts
Showing posts with label withdraw. Show all posts
Sunday, August 28, 2022

Repaying a COVID-Related Distribution

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Do you remember a tax break in 2020 that allowed you to take (up to) $100,000 from your IRA or your employer retirement plan? These were cal...
Sunday, August 8, 2021

Wiping Out An Inherited IRA

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I came across an unfortunate tax situation this week. It has to do with IRAs and trusts. More specifically, naming a trust as a benefici...
Sunday, March 14, 2021

Withdrawing A Tax Court Petition

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  We have a case coming up in the Tax Court. Frankly it should never have gone this far. Much of it was COVID, I suspect. However, some of...
Friday, November 27, 2020

Another IRA-As-A-Business Story Gone Wrong

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  I am not a fan. We are talking about using your IRA to start or own a business. We are not talking about buying stock in Tesla or Micros...
Sunday, April 29, 2018

Taxing A Nondeductible IRA

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Let’s say that you are married. Together you and your spouse earn $200,000. BTW, congratulations. You have done well. Not Thurston How...
Saturday, February 18, 2017

What’s Fair Got To Do With It?

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I am reading a tax case with an unfortunate result. It does not seem that difficult to me to have planned for a better outcome. I h...
Thursday, January 16, 2014

Are You Automatically Liable For Taxes On a Fraudulent IRA Withdrawal?

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Sometimes people pursuing a divorce do stupid things. I am looking this afternoon at Roberts v Commissioner . The first thing I...